Adcytherix, a biopharmaceutical company pioneering the design and development of novel antibody-drug conjugates (ADCs), announced the completion of a €105 million (US$122 million) Series A financing round. The funding will accelerate the company’s lead clinical program, ADCX-020, and expand its proprietary ADC platform focused on next-generation payload innovations aimed at overcoming resistance to current treatments.
The Series A round was led by Bpifrance, through both its Large Venture and InnoBio investment strategies, with co-leads Kurma Partners, Andera Partners, and Angelini Ventures. Additional investors include Surveyor Capital (a Citadel company) and aMoon, along with renewed participation from existing shareholders Pontifax, DawnBiopharma (a KKR-controlled platform), Pureos Bioventures, and RA Capital. This financing represents one of the largest ADC-focused Series A rounds in Europe in 2025, signaling growing confidence in Adcytherix’s differentiated approach to targeted cancer therapy.
The proceeds from the round will support the company’s transition from preclinical development to first-in-human trials, with IND (U.S.) and CTA (EU, UK, and Canada) filings for ADCX-020 expected by the end of 2025. Concurrently, Adcytherix will broaden its pipeline of proprietary ADCs based on innovative payloads designed to enhance selectivity, efficacy, and tolerability in oncology treatment.
Adcytherix’s approach combines deep scientific expertise with a commitment to addressing drug resistance in cancer therapy. The company’s leadership team, led by CEO and founder Jack Elands, brings decades of experience in ADC development and commercialization, positioning Adcytherix as one of Europe’s most promising new entrants in this high-growth therapeutic category.
Bpifrance’s participation through both its Large Venture and InnoBio funds reflects its confidence in Adcytherix’s science and team. Kurma Partners and Andera Partners have also joined the company’s Supervisory Committee, alongside representatives from Pontifax, Pureos Bioventures, DawnBiopharma, Angelini Ventures, aMoon, and RA Capital, providing a robust governance and strategic foundation to guide future growth.
With the close of this funding round, Adcytherix is positioned to emerge as a leader in next-generation ADCs that address cancers resistant to existing therapies, combining proprietary payload chemistry with precision targeting to deliver novel treatment options for patients.
KEY QUOTES:
“Closing the largest ADC-focused Series A in Europe in 2025 validates our science, our vision, and the exceptional work of our team since inception just 18 months ago. We are proud to have attracted a world-class syndicate of investors who share our ambition to develop breakthrough ADCs for patients resistant to the current classes of ADCs.”
Jack Elands, Chief Executive Officer and Founder, Adcytherix
“We are thrilled to lead this Series A round and join an outstanding syndicate of investors. With this sizeable financing, we believe Adcytherix is now uniquely positioned to establish itself as a major player in the field of antibody drug conjugates by building its differentiation strategy around new payloads.”
Laurent Higueret, Deputy Director, Large Venture Fund, Bpifrance
“The caliber of the Adcytherix team and the quality of its R&D around new innovative payloads convinced us to lead this Series A round. The company is uniquely positioned to advance differentiated ADCs against cancers of high unmet need.”
Olivier Martinez, Senior Investment Director, InnoBio Funds, Bpifrance
“After working closely with Jack and his team in his previous highly successful venture we were naturally motivated to re-join him in Adcytherix as a co-lead investor. There are few teams featuring this level of expertise in technology and development strategy, both of which are vital to succeed in today’s rapidly evolving ADC space.”
Peter Neubeck, Partner, Kurma Partners
